Sequoia-backed fitness app Fiture bags $65m in series A money from Tencent

Bertelsmann Asia (BAI), C Ventures, Cathay Capital, BA Capital, CITIC’s CPE, and ALL-Stars Investment also participated in the round.

Founded last year, Fiture develops smart home fitness equipment to offer fitness courses, exercise data tracking, and customized training plans, as well as build an online community for users.

The new funds will go toward research and development to help the company provide users more interactive fitness content, said Tianguang Tang, the co-founder and CEO at Fiture.

BAI claims that this is the largest series A round in fitness tech startup globally. It comes around four months after the Tencent-backed Keep became a unicorn, with US$1 billion in valuation.

Keep, a fitness app that serves 200 million users and took up around 87.7% of market share in 2019 in China, raised US$80 million in a series E round led by Jeneration Capital Management in May.